This analysis examines the financial status of Dartmouth College, focusing on its revenue, expenditure and net operating assets. Notably, both revenue and expenditure are demonstrating an upward trend.
- As of the 2021/22 academic year, Dartmouth generated revenues of $1.01 billion.
- This was 2.06% lower than 2020/21’s $1.03 billion.
- Over the given 5-year period, revenues have increased by 12.75%.
- $333.33 million was generated through distributed endowment investment returns (33.09% of the total revenue).
- $252.54 million was generated through tuition and fees (25.07% of the total revenue).
- $169.44 million was generated through sponsored research grants and contracts (16.82% of the total revenue).
- In total, Dartmouth College had expenses of $936.81 million.
- Total expenses have increased by 14.82% since the $815.93 million spent in 2020/21.
- $616.07 million was spent on academic and student programs (65.83% of the overall spend).
- From the given data, Dartmouth made a net operating asset gain of $71.51 million for the year.
Dartmouth College revenue
Dartmouth College relies heavily on various sources of income for its financial sustenance, with its primary source being distributed endowment investment returns. Additionally, the university generates substantial income through tuition fees and sponsored research grants.
Total revenue
- As of the 2021/22 academic year, Dartmouth generated revenues of $1.01 billion.
- This was 2.06% lower than 2020/21’s $1.03 billion.
- Over the given period, revenues have increased by 12.75%.
- 2020/21 generated the highest revenues from the given data.
- Both 2019/20 and 2021/22 saw drops in revenue when compared to the respective previous academic year.
| Academic year | Total revenue | Change |
| 2017/18 | $0.89 billion | |
| 2018/19 | $0.93 billion | +3.79% |
| 2019/20 | $0.91 billion | -1.97% |
| 2020/21 | $1.03 billion | +13.15% |
| 2021/22 | $1.01 billion | -2.06% |
A graph is given below to show Dartmouth’s total revenue:
Revenue by type
- As of the 2021/22 academic year, Dartmouth generated $333.33 million in revenues through distributed endowment investment returns.
- Distributed endowment investment returns made up 33.09% of the total revenue.
- $252.54 million was generated through tuition and fees.
- Tuition and fees made up 25.07% of the total revenue.
- $169.44 million was generated through sponsored research grants and contracts.
- Sponsored research grants and contracts made up 16.82% of the total revenue.
| Revenue type | 2017/18 | 2018/19 | 2019/20 | 2020/21 | 2021/22 | Change vs 20/21 |
| Tuition and fees | $216.17 million | $225.77 million | $235.09 million | $228.04 million | $252.54 million | +10.74% |
| Sponsored research grants and contracts | $169.95 million | $155.62 million | $153.70 million | $163.55 million | $169.44 million | +3.60% |
| Dartmouth College Fund and other gifts | $90.79 million | $94.59 million | $87.09 million | $106.23 million | $105.12 million | -1.04% |
| Distributed endowment investment returns | $234.62 million | $250.69 million | $270.90 million | $287.51 million | $333.33 million | +15.94% |
| Other operating income | $100.42 million | $118.25 million | $102.33 million | $206.84 million | $56.83 million | -72.53% |
| Auxiliaries | $81.55 million | $82.47 million | $59.96 million | $36.41 million | $90.14 million | +147.57% |
| Total revenue | $0.89 billion | $0.93 billion | $0.91 billion | $1.03 billion | $1.01 billion | -2.06% |
A graph is given below to show Dartmouth’s total revenue by type:
Dartmouth College expenditure
Dartmouth College has seen consistent growth in its overall expenditure. Although spending patterns vary, the institution dedicates the majority of its spending towards academic and student programs.
Total expenditure
- As of the 2021/22 academic year, Dartmouth had expenses of $936.81 million.
- This was the highest total expenditure over the given period.
- Total expenses have increased by 14.82% since the $815.93 million spent in 2020/21.
- Over the given period, expenditure has increased by 7.07%.
- Expenditure decreased year-on-year during both the 2019/20 and 2020/21 academic years.
- 2020/21 saw the lowest expenditure over the given period.
| Academic year | Total expenditure | Change |
| 2017/18 | $874.98 million | |
| 2018/19 | $895.68 million | +2.37% |
| 2019/20 | $863.12 million | -3.63% |
| 2020/21 | $815.93 million | -5.47% |
| 2021/22 | $936.81 million | +14.82% |
A graph is given below to show Dartmouth’s total expenditure:
Expenditure by type
- As of the 2021/22 academic year, Dartmouth spent $616.07 million on academic and student programs.
- Academic and student programs made up 65.83% of the overall spend.
- $113.78 million was spent on sponsored programs.
- Sponsored programs made up 12.16% of the overall spend.
- $108.59 million was spent on general institutional services.
- General institutional services made up 11.60% of the overall spend.
| Expense type | 2017/18 | 2018/19 | 2019/20 | 2020/21 | 2021/22 | Change vs 20/21 |
| Academic and student programs | $560.17 million | $577.98 million | $574.82 million | $541.20 million | $616.07 million | +13.83% |
| Sponsored programs | $125.18 million | $110.81 million | $106.47 million | $112.10 million | $113.78 million | +1.50% |
| General institutional services | $101.61 million | $118.86 million | $102.15 million | $94.27 million | $108.59 million | +15.19% |
| Auxiliaries | $87.15 million | $87.13 million | $78.83 million | $67.54 million | $97.44 million | +44.26% |
| Total expenditure | $874.98 million | $895.68 million | $863.12 million | $815.93 million | $936.81 million | +14.82% |
A graph is given below to show Dartmouth’s total expenditure by type:
Dartmouth College net operating assets
- As of the 2021/22 academic year, Dartmouth made a net operating asset gain of $71.51 million.
- Over the given period, the greatest net operating asset gain was during 2020/21 ($213.47 million).
- The lowest net operating asset gain was during 2017/18 ($19.39 million).
- Dartmouth saw average annual net operating asset gains of $76.76 million over the 5-year period.
| Academic year | Net operating assets | Change |
| 2017/18 | +$19.39 million | |
| 2018/19 | +$32.61 million | +68.18% |
| 2019/20 | +$46.82 million | +43.57% |
| 2020/21 | +$213.47 million | +355.99% |
| 2021/22 | +$71.51 million | -66.50% |
A graph is given below to show Dartmouth’s net operating assets:
Dartmouth revenue FAQ
Where does Dartmouth College’s funding come from?
- Dartmouth’s funding predominantly comes from:
- Distributed endowment investment returns.
- Tuition and fees.
- Sponsored research grants and contracts.
What are Dartmouth College’s main expenses?
- Dartmouth’s main expenses include:
- Academic and student programs.
- Sponsored programs.
- General institutional services.
Is Dartmouth College for profit?
- Dartmouth College is a private, not-for-profit Ivy League institution and directs its revenue towards internal reinvestment.
- This can serve multiple purposes, such as fulfilling operational needs, supporting employee salaries, providing resources and enhancing student services.
- By doing so, Dartmouth can effectively achieve their educational goals.